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looking forward, while mullaly was there, he really turned this around and possibly the worst environment for sales. an impressive job he did from a different industry and a planning sales structure. putting it on solid footing, those are the turn around skill s the boaredd likes. --let's really analyze it.e didn't dneeny "hell no."equivocal you'd stayold me till 2014. >> no change in the plan. non- sounds like the denial denial. months, on the same day they say the plan is not changed. on the 24th, he told investors we won't comment on speculation. back.ms to be walking >> microsoft wants to decide before the end of the year. >> any decision won't happen the week of christmas. will be thdecision e next week or two. >> microsoft stepping up against government surveillance. ♪ >> microsoft says it is stepping up in encryption to protect information. this comes after government intercepting information between centers, but how big a challenge is this? cory johnson is in the newsroom with more. >> they are trying to make it more transparent. more on how that is going to work. joined by the
looking forward, while mullaly was there, he really turned this around and possibly the worst environment for sales. an impressive job he did from a different industry and a planning sales structure. putting it on solid footing, those are the turn around skill s the boaredd likes. --let's really analyze it.e didn't dneeny "hell no."equivocal you'd stayold me till 2014. >> no change in the plan. non- sounds like the denial denial. months, on the same day they say the plan is not...
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we have a regulatory environment and economic environment positive and stable. environment is one where we can see growth. not only in the u.k. at economy, but in the export markets. the prime minister is doing the right thing by going to china. we have a pathetic record in many of the fastest-growing economies in the world in terms of export. we have no interest in those economies for delivering exports. that is a primary risk to the u.k. economy. he haven't got enough export infrastructure. the government has to play a more positive role in developing the infrastructure around the world. >> let's talk about infrastructure and focus on what we need to see. have -- you are part of a group of insurers that are to invest in the infrastructure story in the u.k. over the next few years. we are seeing at the moment a lowball number? solvency rules have changed, regulatory roles have changed. a much more is there? >> i think there is more than that. if we want to get a realistic number, i think the treasury did a fantastic job in developing regulations for the u.k.. h
we have a regulatory environment and economic environment positive and stable. environment is one where we can see growth. not only in the u.k. at economy, but in the export markets. the prime minister is doing the right thing by going to china. we have a pathetic record in many of the fastest-growing economies in the world in terms of export. we have no interest in those economies for delivering exports. that is a primary risk to the u.k. economy. he haven't got enough export infrastructure....
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>> today, john boehner told reporters at the presidents real focus ought to be on creating a better environment for our economy and creating more jobs for the american people. those jobs were there, shovel ready jobs that president obama spoke of often, would we be having this discussion about benefits? >> the unemployment rate has gone down from 2000 eight. whether there are enough or not, that is what politicians can debate around the edges. peoplelion, these are who come from all walks of life, white-collar, blue-collar and they need this assistance and what is also happening is some brinksmanship and public negotiating going on. i think they are close to a deal. it will come in higher than the sequestration rates will be hard for a lot of the republicans in the house for swallow. -- to swallow. if they can get some progress on unemployment it means they will pick up some democratic votes and you may see a budget deal go through with the minority and majority. >> why are some of these americans, for lack of better phrase, being used as a political piÑata? why are they being stigmatized with
>> today, john boehner told reporters at the presidents real focus ought to be on creating a better environment for our economy and creating more jobs for the american people. those jobs were there, shovel ready jobs that president obama spoke of often, would we be having this discussion about benefits? >> the unemployment rate has gone down from 2000 eight. whether there are enough or not, that is what politicians can debate around the edges. peoplelion, these are who come from all...
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we have tried to craft a family- friendly environment. p&g, wheaties, smuckers, nike. we are in some financial and risk management. really interesting categories. >> it sounds like you want to hug the guy. that is a great thing. the challenge is to make it relevant for two weeks. there are such an intertwined mesh of official sponsors, individual sponsorship opportunities, the russian government may or may not make it easy for you. how do you navigate the challenge? >> it is not easy. we understand what they need to do to get the most value to their sponsors. when we are dealing with sponsors and non-sponsors, it is important for us to activate pre the olympics. how do we reach his demographic before we get into that dark period? >> there is a dark period well after. the other challenge all olympic athletes face, how do you perpetuate their relevance? you have these athletes there regularly, but how do you keep that man and others relevant four or five years out? >> it is not easy. our folks have done a phenomenal job. two athletes we have been representing for 20 year
we have tried to craft a family- friendly environment. p&g, wheaties, smuckers, nike. we are in some financial and risk management. really interesting categories. >> it sounds like you want to hug the guy. that is a great thing. the challenge is to make it relevant for two weeks. there are such an intertwined mesh of official sponsors, individual sponsorship opportunities, the russian government may or may not make it easy for you. how do you navigate the challenge? >> it is not...
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i see it in the company, you want to be fast, but you are also thinking about the impact on the environment. >> right. doing more with less has always cultural at ups. we realize we do have a huge impact on the environment, so we spent a lot of time researching new technologies. one of the biggest things -- we just committed to purchasing over 1000 tractors run on natural gas, so we are very excited about that. efficient wayore to power vehicles, and we are a big supporter of that. >> ups, by the way, also working on a system of algorithms to shave fractions of a mile off every driver's route. added up, this thing could save millions. we will have more on this technology they call or ryan as we go inside ups all day on bloomberg television, + -- more.com, and btv on this tall -- more on this technology they call orion. next, world leaders join to celebrate nelson mandela. ♪ thet is 26 minutes after hour, which means bloomberg tv is on the markets. let's get you caught up or stocks are trading right now. a new record yesterday for the s&p 500, but we are coming down from that today, with t
i see it in the company, you want to be fast, but you are also thinking about the impact on the environment. >> right. doing more with less has always cultural at ups. we realize we do have a huge impact on the environment, so we spent a lot of time researching new technologies. one of the biggest things -- we just committed to purchasing over 1000 tractors run on natural gas, so we are very excited about that. efficient wayore to power vehicles, and we are a big supporter of that....
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an, we will return to environment of high rates eventually. we will return to an environment where the economy is lower. >> this the income gap start narrowing then? >> presumably. >> what does your economic team learned from the bond prices of july and august? that was ugly. what did you learn from that? >> i think that the communication is going to be absolutely critical and very difficult. teasing janet yellen will be different? >> yes. i do not think she will be all that different. she headed up the communications committee. i think we will continue to see effort to make it obvious to the markets what the mandate is and what they're trying to do. ultimately, it will be difficult because this is unprecedented. >> the jobs report will come out at 8:30 this morning. what is the first thing you look for? >> headline jobs first, then revisions, then the unemployment rate. finally, what drives the and and limit rate? >> are wages going up? that is all i want to know. >> that is coming up at 8:30. also, we are going into ebay. the ceo will be joi
an, we will return to environment of high rates eventually. we will return to an environment where the economy is lower. >> this the income gap start narrowing then? >> presumably. >> what does your economic team learned from the bond prices of july and august? that was ugly. what did you learn from that? >> i think that the communication is going to be absolutely critical and very difficult. teasing janet yellen will be different? >> yes. i do not think she will...
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what are you staying in terms of the economic environment in the u.s.? >> this quarter was slow to start, right? look at the holiday shopping, it was pushed late. other than that, i think things are looking better and better. >> you have done so many acquisitions and have launched many products as well. john donahoe was excitedly showing this beacon. how do you describe it? >> we want to change how people shop. people love shopping, but they hate paying. >> and it is not just because they are cheap? >> no. everyone is like that. we want to remove that friction and make it completely invisible to pay. with beacon, we did that. you can go into a coffee shop like he did earlier today and then your phone vibrates. you can pay completely hands- free. it can be a retail store or restaurants to enable that and have one of these systems. >> and i have big merchant partners, but how many point-of- sale locations are you in? >> in the u.s., we have over 100,000 locations. i do not want to make it specific -- >> you can. >> we have hundreds of thousands of location
what are you staying in terms of the economic environment in the u.s.? >> this quarter was slow to start, right? look at the holiday shopping, it was pushed late. other than that, i think things are looking better and better. >> you have done so many acquisitions and have launched many products as well. john donahoe was excitedly showing this beacon. how do you describe it? >> we want to change how people shop. people love shopping, but they hate paying. >> and it is not...
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the environment is getting more competitive. the economic climate has not been great. ordersseeing the average down about 10% year-over-year. there are quite a bit more orders that are giving a strong growth. what you're seeing is a lot of people fighting for the market share. >> we have not had major tax reform in almost 30 years. 1986.as since to put that in perspective, that is when microsoft went public. it has been a long time. -- when tapering both the tapering begins it will give relief to the market. they have been remarkably accurate and how it is dealt with the economy. we were the only strategists that said they would taper on september 18. we are beginning to think they will not taper in march, as a result of the fact that the bond market appears to be preempting a fed taper. >> it was a program started under bush, continued under obama, and it is been brought down. i don't know what the right number of weeks is. but i do know that the 1.3 million american people who are getting unemployment benefits, having that stuff, is bad politics and that policy. was
the environment is getting more competitive. the economic climate has not been great. ordersseeing the average down about 10% year-over-year. there are quite a bit more orders that are giving a strong growth. what you're seeing is a lot of people fighting for the market share. >> we have not had major tax reform in almost 30 years. 1986.as since to put that in perspective, that is when microsoft went public. it has been a long time. -- when tapering both the tapering begins it will give...
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it is good to be long and short to manage fixed income in today's environment. >> thank you, jeffrey rosenberg from blackrock. we are about seven minutes away from the november jobs numbers. ♪ >> first. bloomberg. >> you are watching "in the loop ," live on bloomberg television and streaming on your phone, tablet, and on bloomberg.com. good morning. i am betty liu. it is 26 minutes past the hour, which means bloomberg television is on the markets. we are awaiting a jobs report. we are expecting 180,000 jobs created in the jobless rate coming down to 7.2%, not a big difference from october. we are on the market again in 30 minutes. the top headlines -- mourners are gathering outside of the home of nelson mandela, who died 95. night at the age of he led the emancipation of south africa and went on to serve as the first black president of the country. we will have 10 days of mourning before the funeral is held on december 15. the time warner cable incoming ceo says he's willing to sell the company at the right price. the current chief operating officer will take the reins amid specula
it is good to be long and short to manage fixed income in today's environment. >> thank you, jeffrey rosenberg from blackrock. we are about seven minutes away from the november jobs numbers. ♪ >> first. bloomberg. >> you are watching "in the loop ," live on bloomberg television and streaming on your phone, tablet, and on bloomberg.com. good morning. i am betty liu. it is 26 minutes past the hour, which means bloomberg television is on the markets. we are awaiting a...
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probably not as quickly as from prior recessionary environments, but still broadly recovering. most industries, most parts of the united states. we continue -- we expect that to continue in 2014 and beyond. we have more confidence today that europe has hit bottom and starting to move from that, albeit very slowly. i think a year ago we would have thought is it possible they have not hit bottom yet? we would have had less confidence about that. aresia, china and india less great places. they are wrestling with local issues that are a bit different from place to place. >> an optimistic tone from arnie sorenson. closer feeling pretty good about 2014 as well. she has charts to prove it. we will explain in chart attack. we will be right back. ♪ >> time for chart attack where we show you a couple of charts today that will make you smarter. ellen zender you say the world is getting smarter and the charts to prove it. >> that is right. a pretty good outlook for 2013. we will show you we swallowed a really hard pill. a big hit to government spending but a sharp improvement in the defi
probably not as quickly as from prior recessionary environments, but still broadly recovering. most industries, most parts of the united states. we continue -- we expect that to continue in 2014 and beyond. we have more confidence today that europe has hit bottom and starting to move from that, albeit very slowly. i think a year ago we would have thought is it possible they have not hit bottom yet? we would have had less confidence about that. aresia, china and india less great places. they are...
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the banks are not prohibited from having those sorts of operations and a more highly regulated environment. >> a big key, the rule will only be as tough as the regulators enforcing it. that is why washington may weigh some time before challenging this rule in court. it takes effect in july of 2015. >> peter, thank you very much. our chief washington correspondent peter cook. you are just hearing from peter, the fulcrum rule about limiting risks. -- the volt parole about limiting risks. about volcker rule limiting bets. su keenan is with me now with more on the story. this move gets sac closer to that family office status. >> absolutely the last month they agree to pay a record 1.8 billion dollar fine and exit the hedge fund rule -- hedge fund world, raising the needs for cash and removing this need for unit,ad, a reinsurance and it's may fund the reinsurance unit to access extra cash while providing the benefit of being offshore. the statement from the sac spokesman says the firm is now focusing on its transition to a family office. the sales price is estimated to and oneen $500 million bi
the banks are not prohibited from having those sorts of operations and a more highly regulated environment. >> a big key, the rule will only be as tough as the regulators enforcing it. that is why washington may weigh some time before challenging this rule in court. it takes effect in july of 2015. >> peter, thank you very much. our chief washington correspondent peter cook. you are just hearing from peter, the fulcrum rule about limiting risks. -- the volt parole about limiting...
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caroline hyde is standing by with a check on the french startup environment. >> thank you. i am now joined by eric. he is investing in some of these startups. how important is france at the moment in terms of the startup scene? where in europe is best to invest and how is france competing? >> it is a very interesting question. i do not think there is a better country. what has happened in the past couple of years is that the platforms have been developed, like facebook and google any iphone. to break down the walls. it used to be the war, if you , -- he usedhe war to be the world, if you are not one place in the world, you could not be successful. today, you can be anywhere in the world and be successful. >> what is trending? is it mobile payments or individual hotspots? >> it is everything you have talked about. lifestyle, health, food. all of these things that were not touched by technology before are being submerged by new ideas . a big technologic shift out there. >> give us an idea of food. we have heston blumenthal coming on a little bit later. how is food becoming or
caroline hyde is standing by with a check on the french startup environment. >> thank you. i am now joined by eric. he is investing in some of these startups. how important is france at the moment in terms of the startup scene? where in europe is best to invest and how is france competing? >> it is a very interesting question. i do not think there is a better country. what has happened in the past couple of years is that the platforms have been developed, like facebook and google...
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if you look at it, you will see they are trying to craft a family-friendly environment there it png, wheaties, smuckers, nike. we are in some financial and risk management, liberty mutual. really some interesting categories. >> sounds like you want to hug the guy and not just skate behind him. the challenge is to make him relevant for those two weeks. they're such an intertwined mesh of official sponsors, individual sponsorship opportunities and especially the russian government may or may not make it easier for you. how do you manage that challenge? >> we respect the usoc. we understand what they need to do to give them a value to the sponsors. when we are dealing with usoc sponsors and non-sponsors, for the non-sponsors it is really important to activate pre-the olympics. how do we reach his demographic with a storyline. ore we get into that dark. before the olympics. >> and then there is a dark. well after. that is a challenge at all olympic athletes face as you make him or her relevant during the olympics and how you perpetuate that relevance afterwards? you have these athletes t
if you look at it, you will see they are trying to craft a family-friendly environment there it png, wheaties, smuckers, nike. we are in some financial and risk management, liberty mutual. really some interesting categories. >> sounds like you want to hug the guy and not just skate behind him. the challenge is to make him relevant for those two weeks. they're such an intertwined mesh of official sponsors, individual sponsorship opportunities and especially the russian government may or...
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in this environment, even harder. >> hang on. clearly, cerberus has some obligations to investors like callister's. and it has many other partners who are counting on cerberus to generate an adequate return on its investments. but if it comes out and said, we are going to sell this thing, it sounds as though they are going to get rid of it, which is to say not necessarily selling it at the best price. have a simply not been able to find a buyer at any price? or are they trying to maximize the return and get out of this? which to me, in the scam and the environment, might make it a bit of a tough sale. it a bit ofght make a tough sale in this environment. >> you hit the head on the nail. i have lots of investors. they are trying to do the right thing, which is to liquidate the company, but they have to do it for the right price and find the right buyer. they have found some people very interested in the company. but in this industry, this is a fairly big company. tois not an easy company liquidate. >> what if they cannot sell? wil
in this environment, even harder. >> hang on. clearly, cerberus has some obligations to investors like callister's. and it has many other partners who are counting on cerberus to generate an adequate return on its investments. but if it comes out and said, we are going to sell this thing, it sounds as though they are going to get rid of it, which is to say not necessarily selling it at the best price. have a simply not been able to find a buyer at any price? or are they trying to maximize...
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what the markets are concerned about are the key risks that may come from the policy reform environment. many of the measures from the third plenum are positive. but they do raise some questions on soe's which ought to be part of the index. attractiveat valuation may be a reason to continue holding some chinese equities. what we are struggling to find is a catalyst to drive those up in a big way. the data may not be sufficient to cause it is really about more stability than anything else. >> great talking to you. we're going to take a break. coming up, we get you to these images on the streets of bangkok. thailand's opposition party quits parliament. protesters tried to topple the prime minister. this is the scene at the moment as the protesters plan to march tooling you lock -- to yingluck shinawatra -- residents. more coming up. ♪ before things get underway for the week here in hong kong. shanghai starts off its trading day. whatever look at the futures and how they compare to the premarket which is up by 1%. we are seeing gains. equity markets are being lead higher across the asia-
what the markets are concerned about are the key risks that may come from the policy reform environment. many of the measures from the third plenum are positive. but they do raise some questions on soe's which ought to be part of the index. attractiveat valuation may be a reason to continue holding some chinese equities. what we are struggling to find is a catalyst to drive those up in a big way. the data may not be sufficient to cause it is really about more stability than anything else....
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. >> bali is a beautiful environment for this type of compromise. setting forxed negotiations. ink about what this means terms of precedents for the very heightened talks on subsidies for the next stage in terms of agreements?l this is one in the most sensitive issues. does this set a precedent for further talks? >> it to. i hear the tone of all of the aveloping economies, reservation to the subsidization that was done by the developed economies. this is a horizontal imbalance. the package that was approved to toow developed economies to do socialization -- subsidization. there are hundreds of millions of farmers. the just issued a few security law. indonesia has 250 million people. we have a lot of farmers. we have a lot of people to feed. our ability to do stockholding of certain staples and subsidization i think will be for not only us but the developing economies. it will set a process -- precedent in terms of treating the nuance for the purpose of rebalancing the imbalances we might have seen in the past many years. >> top specifically about how on thisl impact nations dea
. >> bali is a beautiful environment for this type of compromise. setting forxed negotiations. ink about what this means terms of precedents for the very heightened talks on subsidies for the next stage in terms of agreements?l this is one in the most sensitive issues. does this set a precedent for further talks? >> it to. i hear the tone of all of the aveloping economies, reservation to the subsidization that was done by the developed economies. this is a horizontal imbalance. the...
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the banks who are prohibited from having those operations in that prohibitive environment. it is very questionable if systemic risk is reduced at all by what we are doing. >> let's take that off the table for a moment, what about the cynics among us who expect that the very least banks to find the to get around specificity of these rules? that is part of what makes wall street so competitive, right? >> research wherever it can be found, they will be doing something else as well, searching for congress to cut overon this, like they did 30 years of glass-steagall. the question is, alternately, where is the bond rating going to be set? we do not even know what the volker rule even means yet. the language is not very specific at all. how you determine the reasonable near-term expectation is security. >> that is vague. >> hedging against a specific identifiable risk? what does that mean, at the end of the day? like a duckt walks and talks like a duck, it is a duck. >> who determines what a duck walks like and talks like? >> all five regulatory agencies. >> i think of what is imp
the banks who are prohibited from having those operations in that prohibitive environment. it is very questionable if systemic risk is reduced at all by what we are doing. >> let's take that off the table for a moment, what about the cynics among us who expect that the very least banks to find the to get around specificity of these rules? that is part of what makes wall street so competitive, right? >> research wherever it can be found, they will be doing something else as well,...
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and it has an impact on the environment. we have spent a lot of time researching new technologies. one of the biggest things we just committed to purchasing 1000 over the road tractors that run on natural gas. we're very excited about that. supply is wonderful. it is a much more efficient way to power vehicles. we are a big supporter of that. you for that. i know it is noisy here. thank you for joining us. that was kurt kuehn from ups. massar.was carol keep watching bloomberg tv as we continue to do inside ups coverage all day. the ceo at 3:00 eastern on "street smart." >> a look at the top headlines. a memorial service being held for nelson mandela today. president obama spoke this morning to a crowd which included world leaders, celebrities, royals, and tens of thousands of south africans. nelson mandela last thursday at age of 95. lulu lemon -- the founder of the company is stepping down as chairman. he will be replaced by the lead director. the ceo is also step down and will be replaced by former toms shoe president. all because of those sheer yoga pants. a drugmaker warns that
and it has an impact on the environment. we have spent a lot of time researching new technologies. one of the biggest things we just committed to purchasing 1000 over the road tractors that run on natural gas. we're very excited about that. supply is wonderful. it is a much more efficient way to power vehicles. we are a big supporter of that. you for that. i know it is noisy here. thank you for joining us. that was kurt kuehn from ups. massar.was carol keep watching bloomberg tv as we continue...
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it is kind of like what we have heard from others, this whole notion of a new normal type environment. growth continues to be low about fragile, and there is a continued risk of asset bubbles building. andt conviction is low, comedies are not doing a lot of investing or hiring. there is a bold case scenario, -- bull case scenario, but that only has a 25% probability. >> what an interesting way to look at the markets. what does larry fink have to say? >> larry, as it turns out, is not here. he is traveling in the middle east, he's going to be seeing clients byckrock's doing some investigation on his own. i did have a chance to sit down with larry fink on writing. we talked about something that is really important to investing, risks. where are the risks, and what hes he seem that's -- perceived as the biggest risk? here's what he told me. >> the next crisis will not be coming from banks. i do not know where it will come, it may not be in financial conveyed might be in technology. maybe it will be private security that would back a lot of us. but the big crisis will not be in financial
it is kind of like what we have heard from others, this whole notion of a new normal type environment. growth continues to be low about fragile, and there is a continued risk of asset bubbles building. andt conviction is low, comedies are not doing a lot of investing or hiring. there is a bold case scenario, -- bull case scenario, but that only has a 25% probability. >> what an interesting way to look at the markets. what does larry fink have to say? >> larry, as it turns out, is...